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Innovative Solutions & Support, Inc., doing business as Innovative Aerosystems, reports developments in advanced avionics engineering, manufacturing and supply for commercial, business aviation and military markets. Its updates regularly cover financial results, conference calls, airframe manufacturer and aftermarket demand, and product areas such as flight management systems, flat-panel cockpit displays, standby units, air data instrumentation, autothrottles, flight control computers, mission computers and navigation systems.
Company news also includes completed product-line and license acquisitions that expand its integrated cockpit, autopilot, electrical power generation and sustainment capabilities. Recent releases describe support for fixed-wing and rotorcraft applications, general aviation product lines, Boeing 767, KC-46 and F-15 power-generator platforms, and lifecycle support for OEM and aftermarket customers.
Innovative Solutions & Support, Inc. (NASDAQ: ISSC) will release its Q1 2021 financial results after the market closes on February 10, 2021. A conference call is scheduled for February 11, 2021, at 10:00 AM ET to discuss these results. The call can be accessed by dialing 1-844-739-3798, and no conference ID is required. Additionally, the call will be streamed live on the Company’s Investor Relations page and available for replay for 30 days. ISSC specializes in flight guidance and cockpit display systems, offering integrated Flight Management Systems and advanced GPS solutions.
Innovative Solutions & Support (NASDAQ: ISSC) announced that its Cockpit/IP® FPDS system upgrade is now operational on over 400 Boeing 757 and 767 aircraft worldwide. The shift towards cargo operations has increased demand for freight-configured aircraft, benefiting older models like these. The upgrade enhances operational performance, reduces fuel consumption, and lowers CO2 emissions while increasing aircraft value. The retrofit can be installed in 24 hours, simplifying maintenance and reducing downtime by eliminating 180 pounds of legacy equipment.
Innovative Solutions & Support, Inc. (NASDAQ: ISSC) has declared a special cash dividend of $0.50 per share. This dividend is to be paid on or about December 30, 2020 to shareholders of record by the close of business on December 21, 2020. The company specializes in designing flight guidance and cockpit display systems for OEMs and retrofit applications, including advanced GPS receivers and integrated Flight Management Systems for sustainable navigation.
Innovative Solutions & Support reported a strong fiscal 2020, with net sales of $21.6 million, up 23% from $17.6 million in 2019. In Q4 alone, sales rose 31% to $6.3 million, and net income increased to $1.2 million or $0.07 per share. The company declared a special dividend of $0.65 per share amounting to $11.2 million as a return to shareholders. With significant liquidity and no debt, IS&S maintains a positive outlook, driven by contracts with Textron and certification of new products.
Innovative Solutions & Support, Inc. (NASDAQ: ISSC) will release its fourth quarter 2020 results on December 9, 2020, after market close. A conference call will follow on December 10, 2020, at 10:00 AM Eastern Time to discuss these results, with registration available via phone at 1-844-739-3798. The call will also stream live on the company's Investor Relations page for 30 days. Innovative Solutions specializes in flight guidance and cockpit display systems for OEMs and retrofits, including advanced GPS receivers and Flight Management Systems.
Textron introduced the King Air 360 featuring an auto-thrust system called ThrustSense® which significantly reduces pilot workload during flight. This system enhances safety by providing critical protection during engine-out scenarios, where directional control is at risk. A webinar on November 4, 2020, hosted by Aviation International News, will discuss the safety attributes of auto throttles in turboprop twin-engine aircraft, featuring insights from industry experts. Innovative Solutions & Support, Inc. (NASDAQ: ISSC) is a systems integrator specializing in flight guidance systems and advanced navigation technologies.